Standard Life figures show good growth November 3, 2010 STANDARD Life said it was cautiously optimistic after it announced strong growth in assets and an increase in net inflows for the first nine months of the year. The group reported that assets under management are 13 per cent higher at £192.4bn compared to the end of the fourth quarter of 2009. Third party investments [...]
THE TIPSTER November 3, 2010 RETAILERS took a tumble yesterday on the back of disappointing news from Next. With concerns that the UK economy may be stagnating, it could be a tough fight for the sector as we run towards the year’s end. Assuming credit remains catatonic, then there’s a good chance that we’ll see a limited seasonal uplift too. [...]
Admiral reports turnover rise despite higher premiums November 3, 2010 ADMIRAL Group announced third quarter turnover jumped 50 per cent year-on-year to £446m yesterday as it added more customers despite increasing insurance premiums. The group, which includes Diamond and Elephant.com, said a significant amount of this came from overseas insurance contributions, which rose 87 per cent compared to the same period last year to £19.3m [...]
Turquoise trading resumes after suspected sabotage November 3, 2010 TRADING on the London Stock Exchange’s Turquoise platform resumed without a hitch yesterday following a suspected sabotage attack which crashed it on Tuesday morning. A Financial Services Authority and internal investigation were both underway yesterday and City A.M. understands an LSE member of staff has been suspended pending the results of the probe. The high [...]
EU will probe News Corp’s bid for BSkyB November 3, 2010 NEWS Corp has officially notified the European Commission about its intention to take full control of BSkyB. Business secretary Vince Cable will now be among those who decide whether the £8bn buyout will be allowed to go ahead. The Commission now has 25 working days to conduct an initial probe, after which it can launch [...]
LISTED PRODUCT NEWS November 3, 2010 FUNDS GETTING MORE COMPLICATED According to research into the US exchange traded fund (ETF) market from Morgan Stanley Smith Barney, new funds are increasing the complexity of the market. Funds replicating new or non-mainstream benchmarks are making it more important to properly differentiate between products, heightening the need for dedicated analysts. Some ETFs in the [...]
Tough banking regulation provides boost for Logica November 3, 2010 BANKS seeking guidance on how to comply with tough new regulation helped push Logica to modest revenue growth in the third quarter. The technology services company said it will maintain its full-year forecast despite admitting it has been forced to trim the value of a number of high profile government contracts. The firm expects this [...]
VICE-CHAIRMAN LEAVES JP MORGAN November 3, 2010 STEVE Black, who co-ran JP Morgan Chase’s investment bank for five years said he plans to leave the company early next year. Black, 58 years old, said he is quitting because he wants to be involved in the day-to-day operations of a business.
Cobham is hit by delays on US contracts November 3, 2010 DEFENCE company Cobham said continued delays in the award of US defence contracts would dent full-year sales and that it was uncertain about its growth prospects for the rest of 2010. Cobham, led by Andy Stevens, said in a trading update: “Given the uncertainty over growth in the fourth quarter, the board recognises that the [...]
KKR reports profits plunge in the third quarter as fee income drops November 3, 2010 PROFITS at private equity house Kohlberg Kravis Roberts (KKR) plummeted by 61 per cent in the third quarter, a result of its private equity portfolio failing to appreciate and a reduction in its income from fees. Economic net income was $317.3m (£197m) for the third quarter at the New York-based firm, down from $822.7m in [...]
